Moberg Pharma: Powerful launch in Sweden - Redeye

Redeye saw a report where sales exceeded our expectations. The main deviation comes from a combination of items, where Terclara manageded to grow the market more substantially than we expected and as we suspect a better deal with Allderma than we anticipated. The EBITDA was also better, with lower-than-expected costs and sales topping our estimates. The main story from the report, apart from the sales, is that the strategy to become a market leader has succeeded, and as this is a test market to hone the approach in other countries, the outcome is very positive. We will adjust our estimates upwards due to the sales beat in the quarter and count for a higher share for Moberg Pharma of the Terclara sales amount to consumers.

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